A special task force of the American Institute of CPAs recommended that the institute's peer review program be more transparent and "written in plain English."
The peer review program is a quality monitoring system for the profession's public accounting sector. Forty-one state CPA societies administer the program and the AICPA Peer Review Board oversees the 41 administering bodies. Thirty-nine states require peer review as a condition of licensure.
The task force included representation from small, medium and large CPA firms, business and industry, state CPA society leadership and state regulators. Other recommendations submitted to the AICPA board include having all state boards of accountancy require peer review as a condition of licensure -- "to ensure a level playing field for all practitioners" -- and the establishment of a peer reviewer recruitment campaign to attract new peer reviewers.
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